Europe debates the future of Russia’s frozen assets

With Ukraine facing a yawning budget shortfall over the next two years, the European Commission has proposed using €185 billion in frozen Russian assets to back an interest-free loan to Kyiv guaranteed by the bloc's member states. But Belgium, the host state of the clearing house that holds the frozen funds, is holding out for fear of facing retaliation from Moscow – legal or otherwise.  

Nov 28, 2025 - 14:00
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Europe debates the future of Russia’s frozen assets
With Ukraine facing a yawning budget shortfall over the next two years, the European Commission has proposed using €185 billion in frozen Russian assets to back an interest-free loan to Kyiv guaranteed by the bloc's member states. But Belgium, the host state of the clearing house that holds the frozen funds, is holding out for fear of facing retaliation from Moscow – legal or otherwise.  

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